In the last few years, Internet users have seen the rapid expansion of "phishing", the use of spoofed e-mails and fraudulent websites designed to trick users into divulging sensitive data. More recently, we have seen the growth of "pharming", the use of malware or DNS-based attacks to misdirect users to rogue websites. In this panel, we will examine the state of the art in anti-phishing solutions and explore promising directions for future research.